Project Management Question Bank
for Exam preparation

Q2. You are a project manager for a small construction project. Your project was budgeted for US $72,000 over a six-week period. As of today, you have spent US $22,000. The earned value is US $24,000. According to your schedule, you should have spent US $30,000 by this time. Based on these circumstances, your project could be BEST described as:

1. Ahead of schedule
2. Behind schedule
3. On schedule
4. Having not enough information provided.

Q3. A first-time project manager wanted to have a “perfect project.” This manager informed the customer that this project would not accept change requests of any kind and that the scope would need to be defined precisely at the very start of the project. The customer agreed to this request. What would your comment on this situation be?

1. The is a good example of how the project management team can decide what is and what is not necessary for the project. Not allowing changes is a good way of ensuring that the project meets requirements as detailed in the project scope.
2. This is unrealistic and impractical. Change is inevitable and rather than look at a 'no change' project, it would be more in the project interests to plan for a robust change control process.
3. This indicates that the project manager is very aggressive and is likely to take the project to successful completion. Since he has announced the 'no change requests' policy, the customer manager can no longer request changes.
4. This is unrealistic and impractical. The project manager should not have announced his intentions to the customer. He should have had an unofficial policy of rejecting all change requests.

Q4. The probability and impact matrix helps you rank risks so you can develop your risk management plan accordingly. Which statement is true about the probability and impact matrix?

1. It includes high-grade risks with its impact
2. It includes low-grade risks with its impact
3. Here the definition of probability and impact is decided
4. A grid showing probability and impact of the risk

Q5. Which of the following is a type of leadership style in which leaders are hands-off and allow group members to make the decisions:

1. Transactional
2. Servant leader
3. Transformational
4. Laissez-faire

Q6. A large project is underway when one of the team members reviews the project status report. He sees that the project is currently running late. As he looks at the report further, he notices that the delay will cause one of his activities to be scheduled during a time he will be out of the country and cannot work on the activity. This is of great concern because he is very committed to the project being successful and he does not want to be the cause of the project being further delayed. What is the BEST THING for him to do?

1. Contact the project manager immediately to provide the project manager with his schedule.
2. Include the information on his next report
3. Request that the issue be added to the project issue log
4. Recommend preventive action.

Q7. You are performing an audit of one of your project manager’s projects and notice that she did not consider the network diagram as part of the Identify Risks process. As a result, the project manager will probably do which of the following?

1. Forget some activities in he risk evaluation
2. Forget activity precedence in her risk evaluation
3. Forget some path convergence issues in her risk evaluation
4. Forget some stakeholders in her risk evaluation.

Q8. Which estimating method tends to be MOST costly for creating a project cost estimate?

1. Bottom-up
2. Analogous
3. Parametric
4. 50/50 rule

Q9. Analogous Estimating is an estimation technique that uses the values of parameters such as scope, cost, budget, and duration from a previous similar activity as the basis of activity. It is frequently used for estimation when there is a limited amount of information about the project. This is a form of:

1. Gross value estimation
2. Function point estimation
3. Fixed point estimation
4. Precision Estimation

Q10. During the creation of lessons learned for a project, the team determines that the project would have been better if they had a change control board. Which of the following is the BEST description of what a change control board helps the team to do?

1. Create change requests
2. Approve or reject changes
3. Create procedures
4. Formulate the change